Poor families may find it tough to pay for medical care, children's education “Recent gains in poverty reduction made in Asia will be undermined” Resurgent global food prices, which averaged 10 per cent in many economies and posted record increases in the first two months of 2011, may push nearly 30 million Indians and 64 million people in the Asian region into extreme poverty, the Asian Development Bank (ADB) said on Tuesday. In...

Itself the outcome of a bottom-up movement, the Jan Lokpal bill ironically proposes a centralised framework against graft. Without checks and balances. There was never any doubt that India needs a strong Lokpal Act. The protest has paved the way for its enactment. With the exultation over the anti-corruption campaign’s ‘victory’ quieting down, it’s time to take stock. Nuanced arguments—and indeed substance—have to recover lost ground to take the discourse...

Even as the World Bank and International Monetary Fund annual Spring Meetings kicked into top gear, IMF Managing Director Dominique Strauss-Kahn made a strong case for reducing global inequality if economic growth was to be sustained. Speaking earlier this week at the Brookings Institution, Mr. Kahn said, “Because growth beset by social tensions is not conducive to economic and financial stability, the IMF cannot be indifferent to distribution issues. And when...

High food prices prevented more than 19 million people in the Asia-Pacific region from lifting themselves out of poverty last year, the United Nations said in a new study released today, warning that soaring food and fuel inflation will keep large sections of the region’s population below the poverty threshold. The assessment by the UN Economic and Social Commission for Asia and the Pacific (ESCAP) says that rising food prices can...

Larry Summers, the recently departed Chairman of US President Barack Obama’s National Economic Council, posed the following question before his trip to India last November: “What is the self-perception of the Congress as a political party?” In fact, this broad question provokes three specific ones in the domain of economics. Is the Congress the party of Jagdish Bhagwati or Amartya Sen; Nehru or Indira Gandhi; or Aruna Roy or Nandan...